Brokerages Set Broadstone Net Lease, Inc. (NYSE:BNL) PT at $18.57

Broadstone Net Lease, Inc. (NYSE:BNL - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.57.

Several brokerages have issued reports on BNL. Truist Financial raised their price objective on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Wall Street Zen downgraded Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a report on Monday. JMP Securities reiterated a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, UBS Group dropped their price target on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in shares of Broadstone Net Lease by 73,833.3% in the 4th quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after purchasing an additional 2,215 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in Broadstone Net Lease during the 2nd quarter worth $45,000. Tower Research Capital LLC TRC raised its stake in Broadstone Net Lease by 192.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Broadstone Net Lease during the 4th quarter worth $54,000. Finally, Quarry LP acquired a new stake in Broadstone Net Lease during the 4th quarter worth $57,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Stock Down 0.2%

BNL stock traded down $0.03 during trading on Tuesday, reaching $16.22. The company's stock had a trading volume of 437,132 shares, compared to its average volume of 1,447,215. The company has a market capitalization of $3.07 billion, a P/E ratio of 31.18 and a beta of 1.00. The company's fifty day moving average is $16.04 and its 200-day moving average is $16.09. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $19.15.

Broadstone Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.2%. Broadstone Net Lease's dividend payout ratio (DPR) is presently 223.08%.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties.